Neutronpay, a digital payment platform based in Canada, has partnered with Pouch.ph to offer fast and affordable remittance services to Filipinos living in Canada and Vietnam. According to a press release sent to Bitcoin Magazine, the association aims to provide a safe and cost-effective solution for Filipino expatriates who want to send money to their loved ones in the Philippines. By leveraging Bitcoin’s Lightning Network, the partnership allows conversion of Canadian dollars or Vietnamese dongs into bitcoins, which are then converted into Philippine pesos and transferred directly to the recipient’s bank or mobile money account.
Albert Buu, Founder and CEO of Neutronpay, expressed his excitement for the collaboration, saying: “Our integration with the Bitcoin Lightning Network is a huge step towards improving our customers’ lives and we look forward to exploring new ways to innovate with each other. . -border payments”.
Demand for remittances to the Philippines has been growing steadily, with personal remittances reaching a record $36.14 billion in 2022, according to data from Banko Sentral ng Pilipinas. Canada accounted for 3.6% of total remittances to the Philippines, highlighting the importance of providing efficient and cost-effective remittance services to the Filipino community in Canada.
Ethan Rose, CEO of Pouch, emphasized the association’s importance in empowering Filipino Overseas Workers (OFWs) to easily send money home. He stated, “Working with Neutronpay is consistent with our effort to empower OFWs to easily send money to their families and loved ones.”
Currently, the NeutronPay app is exclusively available on the Canadian and Vietnamese app stores, while the Pouch.ph app can be downloaded from the Google Play Store and Apple Store. This collaboration between Neutronpay and Pouch.ph provides ultra-fast remittance services to Filipinos in Canada and Vietnam, offering a convenient and cost-effective way to support your families and loved ones in the Philippines.